1350                                          STATE OF SOUTH CAROLINA 
                                                DEPARTMENT OF REVENUE                                               SC SCH.TC-14
                           COMMUNITY DEVELOPMENT                                                                    (Rev. 9/24/19)
                                                                                                                               3364
                                                    TAX CREDIT
    dor.sc.gov                                                                                                      20
Name                                                                                                                        SSN or FEIN

1.  Eligible amount invested in a community development corporation or 
    community development financial institution (attach all certifying DC-06075 forms 
    from SC Commerce)                                                                                                       1.   $ 
                                                                                                                     
2.  Multiply line 1 by 33% for equity investments or 50% for cash donations                                         2.  $ 
                                                                                                                     
3.  Carryover of prior years' unused credit (attach schedule)                                           3.  $ 
                                                                                                                     
4.  Total credit available (add line 2 and line 3)                                                                  4.  $ 
                                                                                                                     
5.  Tax liability                                                                                                   5.  $ 
                                                                                                                     
6.  Enter the lesser of line 4 and line 5 here and on the SC1040TC or SC1120TC                                      6.  $ 
                                                                                                                     
7.  Unused credit (subtract line 6 from line 4)                                                                     7.  $
     Unused credits can be carried forward for up to three years 

                                                    INSTRUCTIONS 
A taxpayer investing in a certified community development corporation or a community development financial institution is 
allowed a credit under SC Code Section 12-6-3530 against state Income Tax, Bank Tax, or Insurance Premium Tax. 
 
Certificate requirement: You cannot claim the credit unless you receive certification from SC Commerce that:        
1. you are investing in a community development corporation or a community development financial institution 
2. the credit available to you will not be more than the annual limit 
 
If you invest in a certified corporation or institution in good faith, you may claim the credit even if SC Commerce later 
revokes or does not renew the certification.   
 
Credit limits: Beginning with the 2019 tax year, the total amount of community development tax credits available to all 
taxpayers is $6 million for all tax years. For a single year, the total amount available to all taxpayers is $1 million.  
 
A single community development corporation or community development financial institution may not receive more than 
25% of the total credits authorized in any year.  
 
For  the  first  three  quarters  of  the  year,  25%  of  credits  will  be  held  in  reserve  for  small,  rural-based  community 
development corporations. No single community development corporation or community development financial institution 
will be authorized to receive more than 15% of the total annual credits during the first three quarters of the year. During 
the  fourth  quarter  of  the  year,  all  remaining  tax  credits  will  be  available  to  all  certified  community  development 
corporations or community development financial institutions.   
 
SC  Commerce  will  authorize  credits  on  a  first-come,  first-served  basis.  Once  the  annual  credit  limit  is  reached,  SC 
Commerce will not authorize any additional credits.   
 
Credit Disqualification: 
   If the community development financial institution you invest in is a tax-exempt nonprofit corporation and you claim the 
   investment as a deduction according to Internal Revenue Code Section 170, you do not qualify for the credit.   
   If you invest in an entity in exchange for stock or other equity interest, and the entity redeems the stock or equity interest 
   within five years, the portion of the credit based on the stock or equity interest is disallowed. You must pay back any 
   disallowed credit that was taken in a previous year on your return for the tax year of the redemption 
   
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Banks and financial institutions: A bank or financial institution with a South Carolina tax liability may invest up to 10% 
of its total capital and surplus into a qualifying entity.

Carry-forward: If the amount of authorized credit is greater than your tax liability, you can carry forward the remaining 
credit to tax years beginning less than three years from the date you acquired the stock or other equity interest that is the 
basis for the credit. Reduce your carry-forward amount if you use it to obtain a new credit in a later tax year.    

Social Security Privacy Act Disclosure 
It is mandatory that you provide your Social Security Number on this tax form if you are an individual taxpayer. 42 U.S.C. 405(c)(2)(C)(i) 
permits a state to use an individual's Social Security Number as means of identification in administration of any tax. SC Regulation 
117-201  mandates  that  any  person  required  to  make  a  return  to  the  SCDOR  must  provide  identifying  numbers,  as  prescribed,  for 
securing proper identification. Your Social Security Number is used for identification purposes. 
The Family Privacy Protection Act 
Under the Family Privacy Protection Act, the collection of personal information from citizens by the SCDOR is limited to the information 
necessary for the SCDOR to fulfill its statutory duties. In most instances, once this information is collected by the SCDOR, it is protected 
by law from public disclosure. In those situations where public disclosure is not prohibited, the Family Privacy Protection Act prevents 
such information from being used by third parties for commercial solicitation purposes. 

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